What's the optimum size of the ideal STR ?
#3 Coronavirus Conversation Contributor
- Los Angeles, CA
There are a lot of conversations here on BP about city/location, but not much about the size of the property. Since we all know size DOES matter ;) what has been your experience? It's well established that for LTR, smaller units have higher cap rates and lower vacancies, obviously. The downside is the time to manage. But how about STR? Is it following the same rule or there are as much demand for large properties as for small ones because of family gatherings and vacations and things people don't do at their homes?
Of course this also depends on the location and the demography. But here's my final question:
In your location, if you had the choice of buying a duplex with each unit having 2BR/1Ba, 1000 sqft each or a 2000 sqft SFH with 4 bedrooms, at the same purchase price, which way would you go?